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What is the security required for BridgePoint’s Law Firm Loans?

April 26, 2017bridgepoint law firm Loans security

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What is the security required for BridgePoint’s Law Firm Loans?

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While loans are outstanding, borrowers assign to BridgePoint their entitlement to legal fees and the reimbursement of disbursements on a file (for Individual Loans) or a group of files (for Shelf Line borrowings). For general loans to a law firm, BridgePoint takes a security assignment of the firm’s receivables subject/subordinate to pre-existing bank registrations.